Hospitality unicorn Oyo raises $65-M from founder Ritesh Agarwal’s Redsprig Innovation

Gurugram-headquartered hospitality unicorn Oyo Rooms has raised INR 550 crore (around USD 65 million) from Redsprig Innovation Partners, an affiliate entity of the company’s founder Ritesh Agarwal. The company is to issue 12,91,07,982 equity shares at INR 42.6 each to raise INR 550 crore (USD 65 million). Post-funding, the company's valuation rose to USD 3.79 Billion, reflecting a 59.2% increase from Oyo's previous Series G round, when the firm was valued at USD 2.38 billion.The proceeds will be used for growth, to support global expansion (including acquisitions), and strengthen business strategies.